The Investment Management Consultants Association is updating Certified Investment Management Analyst designation requirements.

IMCA, Denver, says applicants will be able to qualify by showing that they have at least 3 years of financial services industry experience.

In the past, applicants had to show that they had at least 3 years of experience in investment management consulting.

IMCA also is adding a certification exam.

In the past, candidates could get CIMA designation by taking the classes, without passing a certification exam.

The changes will take effect July 1, IMCA says.